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New T4 reporting requirements for the 2020 tax year

Jan 13, 2021

Last year was different. The federal government introduced several support programs to help employers cope with the impacts of the pandemic.

Tags: Small Business Taxes

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Business Owner at Laptop Tax Implications of Covid-19 Government Programs

Tax implications of COVID-19 programs

Dec 11, 2020
Did your business take advantage of federal COVID-19 programs in 2020? If so, questions are likely racing through your mind about the tax implications of receiving benefits from the various programs. Find out how the benefits may impact your tax return.

Tags: Small Business Taxes, Tax Preparation, covid-19 updates, Tax Planning

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Lori and Bobby Hurry - Lake Fraser - FBC Member Spotlight

FBC Member Spotlight: Canada's Grocery Store and More

Nov 25, 2020
When the Endako Mine closed at the end of 2014, the Village of Fraser Lake lost its biggest employer. About a year later, the only grocery store in the community closed too. It was a tough time for the town. That’s when Lori and Bobby Hurry decided it was time to do something about it.

Tags: Small Business Taxes

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Canada Emergency Rent Subsidy Program

Nov 17, 2020
The federal government is launching a new rent relief program for small businesses impacted by COVID-19. They’ve released the draft legislation and proposed details for the first 12 weeks of the program. Find out if you qualify and how to apply.

Tags: government updates

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8 benefits of hiring a professional bookkeeper

Sep 28, 2020
Find out what benefits your business will see if you outsource your bookkeeping.

Tags: Bookkeeping, Farm Taxes, Small Business Taxes, Tax Consultation, Tax Planning, Tax Preparation

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Potential tax implications of COVID-19 spending

Aug 07, 2020
What are the tax implications of the government’s financial response to COVID-19? Our columnist outlines a few possibilities.

Tags: Financial Planning, Small Business Taxes, Tax Consultation, Tax Planning, Tax Preparation

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a man writes on a notepad, calculating his work space from home expenses

Work-space-in-the-home expenses for remote employees

Jul 30, 2020
Right now, if an employee wants to claim work-space-in-the-home expenses, certain conditions must be met. Find out what the current rules are surrounding work-space-in-the-home expenses, what paperwork your employees will need and how they can claim this expense on their tax return.

Tags: Bookkeeping, Farm Taxes, Small Business Taxes, Tax Consultation, Tax Planning, Tax Preparation

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COVID aid paperwork must be in order as audits loom

Jul 10, 2020
The CRA has announced it is starting to gear up its full auditing powers that were mostly suspended since the outbreak began. Find out how this could affect you if you've applied for COVID-19 financial aid programs.

Tags: Audit Representation, Legal & Compliance, Small Business Taxes, Tax Consultation, Tax Planning, Tax Preparation

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COVID-19 Update: Canada Emergency Wage Subsidy Program

Apr 02, 2020
Find out how the Canada Emergency Wage Subsidy will help businesses keep their employees during the COVID-19 outbreak.

Tags: covid-19 updates

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COVID-19 Update: Canada Emergency Response Benefit

Mar 25, 2020
Prime Minister Justin Trudeau announced on Wednesday that the House of Commons has passed an emergency bill for the government’s COVID-19 emergency response. Learn more about the new Canada Emergency Response Benefit.

Tags: member updates, covid-19 updates, government updates

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